Ex-Hyundai Exec Krafcik Joins TrueCar Board

John Krafcik, who left as CEO of Hyundai Motor America in December, has joined the board of TrueCar Inc., a California-based online car-buying service.

Krafcik's arrival coincides with TrueCar's filing with the U.S. Securities and Exchange Commission of a proposed initial public offering. Goldman, Sachs & Co. and J.P. Morgan Securities LLC will handle the $125 million IPO.

As CEO at Hyundai's U.S. unit, Krafcik oversaw a 79% surge in sales for the brand. He said growth in 2012 had slowed to only 2% because of limited production capacity. He left when Hyundai did not renew his contract.

It isn't clear how long Krafcik plans to be with TrueCar or how extensive his role there will be. The company says it will value his counsel about offering suitable products.